3 Stocks to Supplement Your Social Security Income
In any discussion about investing in retirement, conventional wisdom contends that bonds are the way to go. They fluctuate in value far less than the average stock and payout steady interest payments. Fixed-income investments like bonds can be a great way to generate extra cash to supplement Social Security and pay the bills.
When thinking about supplementing basic retirement income like Social Security, though, stocks shouldn't be left out of the equation. There are plenty of rock-solid businesses that pay out steady streams of cash to their shareholders, plus offer the added benefit of possible share price appreciation. Three that look particularly attractive for retirees are AbbVie (NYSE: ABBV), Phillips 66 (NYSE: PSX), and Store Capital (NYSE: STOR).
Global pharmaceutical giant AbbVie has had a rough go of it over the last couple of years. The stock is down some 40% from its high-water mark set in early 2018. Not exactly the kind of number that looks attractive to a typical retiree. Aging autoimmune disease treatment Humira losing some of its patent protection explains some of the price drop, as does AbbVie's proposed acquisition of Botox maker Allergan for $63 billion to diversify its sales base and boost cash flow.
Source Fool.com
